Atkore Inc. (NYSE:ATKR) Stake Lowered by Hancock Whitney Corp

Hancock Whitney Corp decreased its stake in Atkore Inc. (NYSE:ATKR) by 44.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,443 shares of the company’s stock after selling 1,952 shares during the period. Hancock Whitney Corp’s holdings in Atkore were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Boston Partners increased its stake in shares of Atkore by 12.0% in the first quarter. Boston Partners now owns 1,340,146 shares of the company’s stock valued at $254,733,000 after purchasing an additional 143,121 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Atkore by 28.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 973,116 shares of the company’s stock worth $131,303,000 after acquiring an additional 216,997 shares during the period. American Century Companies Inc. grew its stake in shares of Atkore by 22.9% in the second quarter. American Century Companies Inc. now owns 773,697 shares of the company’s stock worth $104,395,000 after purchasing an additional 144,283 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Atkore by 48.4% during the first quarter. Clearbridge Investments LLC now owns 514,908 shares of the company’s stock valued at $98,018,000 after purchasing an additional 168,042 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Atkore by 1.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 449,323 shares of the company’s stock worth $85,535,000 after purchasing an additional 4,852 shares during the period.

Insider Buying and Selling at Atkore

In other news, insider Mark F. Lamps sold 500 shares of Atkore stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $95.47, for a total value of $47,735.00. Following the transaction, the insider now directly owns 28,086 shares of the company’s stock, valued at $2,681,370.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.56% of the company’s stock.

Atkore Stock Down 1.9 %

ATKR stock opened at $85.35 on Tuesday. The firm has a market cap of $3.11 billion, a PE ratio of 5.32 and a beta of 2.14. Atkore Inc. has a 12 month low of $80.11 and a 12 month high of $194.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.26 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $105.23 and a 200 day simple moving average of $140.55.

Atkore (NYSE:ATKR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.52 by $0.28. The business had revenue of $822.40 million during the quarter, compared to analyst estimates of $830.16 million. Atkore had a return on equity of 36.96% and a net margin of 16.47%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $5.13 EPS. Equities research analysts forecast that Atkore Inc. will post 12.69 earnings per share for the current fiscal year.

Atkore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.28 annualized dividend and a yield of 1.50%. Atkore’s payout ratio is presently 7.98%.

Analysts Set New Price Targets

ATKR has been the topic of several research analyst reports. B. Riley lowered their target price on shares of Atkore from $183.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Loop Capital lowered their price objective on shares of Atkore from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp cut their target price on Atkore from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Finally, Royal Bank of Canada cut Atkore from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $175.00 to $100.00 in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Atkore has an average rating of “Moderate Buy” and a consensus target price of $131.60.

Atkore Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.